The trade volume of the Nigerian bourse only scraped a 1.56 per cent growth this week, even though stocks were up by N552.120 billion.
This is also as the magnetism of steady gains in equity trading kept drawing funds from the fixed income market, where low yields are pushing investors to explore more rewarding investment options.
Nevertheless, the future of stocks in the near term will be substantially shaped by the direction the central bank’s monetary policy committee will take when it meets in the week ahead to decide the benchmark interest rate and other macroeconomic parameters.
All the key market performance indicators recorded an increase this week. The market reported a positive breadth as 60 gainers emerged against 19 losers. The All-Share Index and market capitalisation concurrently rose by 2.63 per cent. The former closed at 41,176.14 index points and the latter at N21.530 trillion.
A trade volume of 3.447 billion shares worth N32.725 billion was recorded in 30,327 deals relative to the 3.394 billion shares valued at N19.867 billion posted in 26,808 deals last week.
On the activity chart, the Financial Services sector led trade with 1.714 billion shares estimated at N13.352 billion traded in 15,102 deals.
Specifically, it added 49.74 per cent and 40.80 per cent to the total equity volume and value respectively. The Construction/Real Estate industry came next, trading 768.131 million shares worth N4.203 billion in 430 deals. The Conglomerates sector was third, trading 279.799 million shares priced at N578.694 million in 1,199 deals.
As regards index movement, all indices appreciated save for NSE Growth Index which slid by 3.32 per cent.
The NSE Alternative Security Market (ASeM) Index, however, did not change.
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